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South Carolina Powerball Jackpot Annuity Payout Schedule for Nov 28, 2022

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The tax information provided here is based on 2022 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Powerball annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $54,800,000 for a ticket purchased in South Carolina, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money, as well as deductions claimed.

State:

South Carolina

Drawing Date:Mon, Nov 28, 2022
Jackpot:$54,800,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$824,819$268,138$53,613$503,068
2$866,060$283,397$56,294$526,369
3$909,363$299,419$59,109$550,835
4$954,831$316,242$62,064$576,524
5$1,002,572$333,907$65,167$603,498
6$1,052,701$352,454$68,426$631,821
7$1,105,336$371,929$71,847$661,560
8$1,160,603$392,378$75,439$692,786
9$1,218,633$413,849$79,211$725,573
10$1,279,564$436,394$83,172$759,999
11$1,343,543$460,066$87,330$796,147
12$1,410,720$484,921$91,697$834,102
13$1,481,256$511,020$96,282$873,955
14$1,555,319$538,423$101,096$915,800
15$1,633,084$567,196$106,150$959,738
16$1,714,739$597,408$111,458$1,005,872
17$1,800,476$629,131$117,031$1,054,314
18$1,890,499$662,440$122,882$1,105,177
19$1,985,024$697,414$129,027$1,158,584
20$2,084,276$734,137$135,478$1,214,661
21$2,188,489$772,696$142,252$1,273,542
22$2,297,914$813,183$149,364$1,335,366
23$2,412,810$855,695$156,833$1,400,282
24$2,533,450$900,332$164,674$1,468,444
25$2,660,123$947,200$172,908$1,540,014
26$2,793,129$996,413$181,553$1,615,163
27$2,932,785$1,048,086$190,631$1,694,069
28$3,079,424$1,102,342$200,163$1,776,920
29$3,233,396$1,159,311$210,171$1,863,914
30$3,395,065$1,219,129$220,679$1,955,257
Total$54,800,000$19,164,650$3,562,001$32,073,354

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.